Delek Logistics Partners (NYSE:DKL) Coverage Initiated at Bank of America

Bank of America began coverage on shares of Delek Logistics Partners (NYSE:DKL - Free Report) in a research report report published on Thursday, Marketbeat.com reports. The firm issued an underperform rating and a $36.00 price target on the oil and gas producer's stock.

A number of other brokerages have also weighed in on DKL. Citigroup upgraded Delek Logistics Partners from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $44.00 to $45.00 in a research note on Wednesday, August 28th. StockNews.com lowered Delek Logistics Partners from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

Delek Logistics Partners Stock Performance

DKL traded down $0.35 on Thursday, hitting $38.86. The company had a trading volume of 164,686 shares, compared to its average volume of 99,341. The stock has a fifty day moving average price of $41.16 and a 200-day moving average price of $40.24. Delek Logistics Partners has a 12-month low of $37.02 and a 12-month high of $53.80. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 14.14 and a beta of 2.11.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.06. Delek Logistics Partners had a negative return on equity of 147.45% and a net margin of 12.48%. The business had revenue of $264.63 million for the quarter, compared to analyst estimates of $257.17 million. During the same quarter in the previous year, the firm earned $0.73 earnings per share. Analysts forecast that Delek Logistics Partners will post 3.41 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 9th were given a $1.09 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $4.36 dividend on an annualized basis and a yield of 11.22%. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $0.73. Delek Logistics Partners's dividend payout ratio is currently 157.40%.

Insider Buying and Selling at Delek Logistics Partners

In related news, Director Sherri Anne Brillon purchased 2,000 shares of the firm's stock in a transaction on Monday, August 19th. The stock was bought at an average cost of $39.00 per share, with a total value of $78,000.00. Following the completion of the acquisition, the director now owns 11,433 shares of the company's stock, valued at $445,887. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, President Avigal Soreq purchased 2,563 shares of the firm's stock in a transaction on Thursday, October 10th. The stock was bought at an average cost of $39.00 per share, with a total value of $99,957.00. Following the completion of the acquisition, the president now owns 46,758 shares of the company's stock, valued at $1,823,562. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sherri Anne Brillon purchased 2,000 shares of the firm's stock in a transaction on Monday, August 19th. The stock was bought at an average cost of $39.00 per share, with a total value of $78,000.00. Following the completion of the acquisition, the director now directly owns 11,433 shares of the company's stock, valued at $445,887. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 12,934 shares of company stock valued at $504,348. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DKL. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Delek Logistics Partners by 205.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer's stock worth $60,775,000 after buying an additional 997,860 shares during the period. Strategic Financial Concepts LLC raised its stake in shares of Delek Logistics Partners by 4,182.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer's stock worth $201,000 after buying an additional 484,571 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of Delek Logistics Partners during the 1st quarter worth approximately $12,656,000. Kayne Anderson Capital Advisors LP acquired a new position in shares of Delek Logistics Partners during the 1st quarter worth approximately $10,304,000. Finally, GSA Capital Partners LLP raised its stake in shares of Delek Logistics Partners by 263.8% during the 1st quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer's stock worth $1,539,000 after buying an additional 27,217 shares during the period. 11.75% of the stock is owned by institutional investors and hedge funds.

About Delek Logistics Partners

Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The Gathering and Processing segment consists of pipelines, tanks, and offloading facilities that provide crude oil and natural gas gathering and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties.